Investment Q&A

• BSR Real Estate Investment Trust Trust Units (HOM.U $12.80)
  • $12.80 Cap: $499M
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• BSR Real Estate Investment Trust (HOM.UN $17.83)
  • $17.83 Cap: $695M
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Q: Can you tell me the difference between these two listings? And what is your view of this company. Is it a buy? Thank you

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Read Answer Asked by christianne on November 05, 2019

• STARWOOD PROPERTY TRUST INC. Starwood Property Trust Inc. (STWD $20.25)
  • $20.25 P/E (TTM): 18.37X Cap: $7.43B
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• Brixmor Property Group Inc. (BRX $27.86)
  • $27.86 P/E (TTM): 24.53X Cap: $8.52B
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Q: Hi,
Looking for a REIT with momentum, good growth, reasonable dividend at a fair price.
Would Starwood Property (stwd), Brixmor Property (brx) or Realty Income (o) fit the bill ? Or any other you think would better achieve the purpose ?
With many thanks,

Jacques, Mtl

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Read Answer Asked by Jacques on November 05, 2019

Q: Just a comment on pros and cons of receiving distributions as return of capital. While a nice problem to have I believe if the ROC results in the capital cost base going negative the ROC is taxed as income.

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Read Answer Asked by Lynda on November 04, 2019

Q: Please explain the pros and cons of receiving distributions as return of capital. Also does this differ for non- registered, RRSPs and TFSAs?

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Read Answer Asked by bill on November 04, 2019

• European Residential Real Estate Investment Trust (ERE.UN $2.42)
  • $2.42 Cap: $569M
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Q: Hello,

Can you provide your views on the prospects for this REIT and whether you would recommend a purchase at this point.

Thank you.

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Read Answer Asked by Greg on November 04, 2019

• Colliers International Group Inc. Subordinate Voting Shares (CIGI $231.51)
  • $231.51 P/E (TTM): 74.56X Cap: $11.69B
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• FirstService Corporation (FSV $276.50)
  • $276.50 P/E (TTM): 63.91X Cap: $12.59B
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Q: Both down significantly and I own neither, but have been watching FSV and to a lesser degree, CIGI.

For exposure in real estate and seeking growth (not income) would you prefer one over the other, or are these close enough to equal as far as 5i is concerned? Any guesses as to which one bounces back faster?

Thx.

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Read Answer Asked by Cameron on November 01, 2019

• H&R Real Estate Investment Trust (HR.UN $12.11)
  • $12.11 Cap: $3.33B
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Q: Will Encana's move to the U.S. have much of an effect on the performance of H&R REIT with respect to the Bow Tower property ? Thanks. Joe
.

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Read Answer Asked by Joseph on November 01, 2019

• Inovalis Real Estate Investment Trust (INO.UN $0.85)
  • $0.85 Cap: $28M
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Q: Hi Gang

Any reason why ino is down
Thanks Mike B

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Read Answer Asked by Mike on October 30, 2019

• Dream Global Real Estate Investment Trust (DRG.UN $16.79)
  • $16.79 P/E (TTM): 4.7X Cap: $3.26B
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Q: Not sure if anyone has already asked but my question is should I tender my shares for Blackstones planned acquisition of subject. Obviously Blackstone must feel they can do good things with it and the premium offered is not overly generous.

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Read Answer Asked by Mark on October 30, 2019

• RioCan Real Estate Investment Trust (REI.UN $18.38)
  • $18.38 P/E (TTM): 18.97X Cap: $5.42B
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• H&R Real Estate Investment Trust (HR.UN $12.11)
  • $12.11 Cap: $3.33B
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• Boardwalk Real Estate Investment Trust (BEI.UN $70.03)
  • $70.03 P/E (TTM): 10.79X Cap: $3.73B
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• Granite Real Estate Investment Trust (GRT.UN $81.87)
  • $81.87 P/E (TTM): 21.0X Cap: $4.96B
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• InterRent Real Estate Investment Trust (IIP.UN $13.36)
  • $13.36 Cap: $1.86B
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Q: In the Real Estate Investment Trust sector rank them from best first on down? Interrent, Riocan, Granite, Broadwalk, and H&R Also give some color why they would be better than the others?

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Read Answer Asked by Herbert on October 29, 2019

• Colliers International Group Inc. Subordinate Voting Shares (CIGI $231.51)
  • $231.51 P/E (TTM): 74.56X Cap: $11.69B
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Q: Hi there,

This one is getting clobbered this morning. At first glance i did not think the results or forecast were that bad but clearly the market thinks differently.
Your thoughts.

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Read Answer Asked by kelly on October 29, 2019

• Northview Apartment Real Estate Investment Trust Trust Units (NVU.UN $36.23)
  • $36.23 P/E (TTM): 11.76X Cap: $2.51B
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Q: Do you seen any downturn for Nvu.un with Alberta economy ?

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Read Answer Asked by terrance on October 29, 2019

• Canadian Apartment Properties Real Estate Investment Trust (CAR.UN $41.37)
  • $41.37 P/E (TTM): 82.86X Cap: $6.55B
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• Chartwell Retirement Residences (CSH.UN $18.25)
  • $18.25 P/E (TTM): 83.18X Cap: $5.31B
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• Brookfield Property Partners L.P. (BPY.UN $23.29)
  • $23.29 Cap: $21.72B
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• InterRent Real Estate Investment Trust (IIP.UN $13.36)
  • $13.36 Cap: $1.86B
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Q: I am considering adding BPY.UN to REITs already owned in my RRSP..This would raise my allocation from 11% to 14%. Do you like this move? Thanks for your great service.

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Read Answer Asked by Allen on October 29, 2019

• Melcor Real Estate Investment Trust (MR.UN $5.49)
  • $5.49 Cap: $71M
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Q: Your updated analysis of this reit please.Thanks.

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Read Answer Asked by Maurice on October 29, 2019

• Summit Industrial Income REIT (SMU.UN $23.48)
  • $23.48 P/E (TTM): 0.6X Cap: $4.46B
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Q: according to the WSJ in order to participate in online commerce blackstone is buying warehouses in the USA. are there any Canadian companies that are in this space even partially? thanks Richard

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Read Answer Asked by richard on October 28, 2019

• Apollo Commercial Real Estate Finance Inc (ARI $10.39)
  • $10.39 Cap: $1.44B
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Q: What is your opinion on this stock.

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Read Answer Asked by RALPH on October 28, 2019

• European Residential Real Estate Investment Trust (ERE.UN $2.42)
  • $2.42 Cap: $569M
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Q: In a June 28/19 answer to Jim 5I quotes a yield of 8.03 % yield on ERE.UN.... I'm assuming something changed between then and now as any source I can find shows 3.27 %... Could you explain what that was ? You also referred to a special dividend in April. What was that all about ? Thanks for your great work.

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Read Answer Asked by Garth on October 25, 2019

• American Tower Corporation (REIT) (AMT $211.88)
  • $211.88 P/E (TTM): 75.99X Cap: $99.21B
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• Crown Castle Inc. (CCI $103.79)
  • $103.79 Cap: $45.19B
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• Prologis Inc. (PLD $112.28)
  • $112.28 P/E (TTM): 29.29X Cap: $104.20B
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• Vanguard Real Estate Index Fund ETF (VNQ $92.18)
  • $92.18 P/E (TTM): 152.68X Cap: $34.32B
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• Cencora Inc. (COR $292.60)
  • $292.60 P/E (TTM): 31.13X Cap: $56.72B
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Q: How would you play the US Reit space at this time? ETFs or specific stocks? Can you recommend a couple of each?
Dennis

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Read Answer Asked by Dennis on October 25, 2019

• Nexus Industrial REIT (NXR.UN $7.95)
  • $7.95 Cap: $771M
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Q: What is the nav of this company? Is debt and profits OK?

Thanks

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Read Answer Asked by Thomas on October 25, 2019

• Granite Real Estate Investment Trust (GRT.UN $81.87)
  • $81.87 P/E (TTM): 21.0X Cap: $4.96B
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Q: What is your opinion on recent acquisitions of this REIT in US? I have this stock and it has done very well so far.

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Read Answer Asked by Miroslaw on October 25, 2019